Rubrik Stock: Invest After the IPO?
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The Rubrik IPO date was Thursday April 25th, 2024. The stock began trading at 12:50 pm ET. The stock opened at $38.60, up 20.6%.
TradeStation offered IPO access through its partnership with ClickIPO. Fidelity also is offering IPO access to eligible customers. Allocations are never guaranteed. More below.
Rubrik filed for an IPO on April 1st, 2024. Read the S-1 filing below and bookmark this page for the latest updates. The Rubrik stock symbol will be RBRK and trade on the NYSE.
Invest in the next IPOs today. Own select pre-IPO startups like OpenAI, Databricks, Anthropic, and Anduril via the Fundrise Innovation Fund* (review). All U.S.-based investors 18+ are eligible. $10 investment minimum.
Table of Contents
Rubrik IPO and Stock Recent News
09/10/2024: Rubrik shares fall firm nears IPO lockup expiry
04/25/2024: Rubrik first trade $38.60 at 12:50 pm ET.
04/24/2024: Rubrik prices IPO at $32, adds 500k shares to offering
04/22/2024: Rubrik IPO Roadshow
04/16/2024: Rubrik Amends S-1, set stage for $5.4 billion IPO
04/15/2024: Rubrik Is Seeking IPO of as Much as $713 Million
Older news…
What is Rubrik?
Rubrik is a cloud data management and security company based in Palo Alto, CA, calling itself the “Zero Trust Data Security” company.
Zero trust is an information technology term that refers to a methodology to thwart cybersecurity and ransomware attacks.
Zero trust methods are based on the assumption that all devices, applications, and users are untrustworthy. Therefore, systems and processes should verify all users before accessing a network or application.
For example, a large corporation may require all employees to log in every day to complete their timesheets. The verification step ensures each user has valid credentials to access the system.
Companies and organizations can fend off bad actors by defending networks and systems with zero trust security methods.
Rubrik’s cloud products, combined with integrations and company partnerships, help to strengthen cybersecurity defenses. Other cybersecurity startups on our radar include Netskope, the cloud-native security platform Cohesity, application development integrated Snyk, and the risk and compliance platform Tanium.
Here’s a video illustrating how Rubrik’s technology uses zero trust methods to defend against hackers and unauthorized access.
Is Rubrik Publicly Traded?
Yes. Investors can buy it now.
When was the Rubrik IPO Date?
The Rubrik IPO date was Thursday, April 25th, 2024. The deal raised $752 million.
The S-1 filing became public on April 1st, 2024. The release date suggests a late April or early May IPO. Rubrik stock trades on the NYSE.
Rubrik was planning to IPO in the Fall of 2023 but pushed its IPO plans to 2024 due to the negative reception of the Birkenstock IPO and the eruption of violence in Israel.
Sources told Reuters in June 2023 that Rubrik has hired Goldman Sachs, Barclays Plc, and Citigroup Inc as underwriters for its IPO (confirmed in S-1).
Rubrik IPO Terms
- Rubrik Ticker: “RBRK”
- Exchange: NYSE
- Offering: 23.5 million shares
- Raise: $752 million
- Rubrik IPO Price: $32
- Opening Trade: $38.60
- IPO Date: Thursday, April 25th, 2024, 12:50 pm ET.
- Rubrik IPO Valuation: $6.6 billion fully diluted
- Lead Underwriters: Goldman Sachs, Barclays, Citigroup
- Broker availability: TradeStation (via ClickIPO), Fidelity
The Rubrik IPO S-1 Filing
Here is a copy of the April 1st, 2024 Rubrik S-1 filing in PDF format:
Here’s the latest amended version. Amended versions of this S-1 will be posted to the SEC website.
You can also monitor all recent S-1 IPO filings on this website.
Who Owns Rubrik?
Rubrik is a public company owned by shareholders.
Before the IPO, Rubrik was a venture-backed startup with several large investors. The company raised significant “Series” funding rounds in 2017, 2019, and 2021, and smaller secondary rounds.
Rubrik raised more than $550 million in venture capital funding before its IPO.
Prominent early investors include Microsoft, Bain Capital Ventures, IVP, Lightspeed Ventures, Greylock Partners, Khosla Ventures, General Global Capital, Irving Investors, MS&AD Ventures, Thirdbase Capital, GoldenArc Capital, and Next Play Capital.
The company’s founders, Bipul Sinha, Arvind Jain, Soham Mazumdar, and Arvind Nithrakashyap, held significant equity positions headed into the IPO and still hold shares.
Rubrik Valuation
The fully diluted Rubrik valuation was $6.6 billion on the IPO date.
The previous confirmed Rubrik valuation was $4 billion dating back to Microsoft’s equity investment in 2021.
There was a robust pre-IPO market for Rubrik stock. Analysis of private market transaction data provided by Hiive suggested the Rubrik valuation is above $6 billion headed into the IPO.
What is the Rubrik Stock Price?
What is the Rubrik Stock Symbol? Rubrik Ticker?
The Rubrik stock symbol is “RBRK”
Can You Buy Rubrik on Pre-IPO Marketplaces?
No. Rubrik is a public company now. Buy shares through your online broker.
Monitor pre-IPO platforms such as Hiive marketplace for the pre-IPO stock.
Check out our list of top pre-IPO investing platforms for current platforms that may have shares available.
How to Invest in the Rubrik IPO
Now that the IPO is complete, investors can own Rubrik stock via option one. Options two and three are not longer available.
1. Buy Rubrik stock after the Rubrik IPO
Rubrik is now available to own via any online broker.
Many IPOs start off hot, then the stock falls once the first and second quarterly earnings reports become available.
The stock price declines after the IPOs could become excellent entry points if you were not allocated IPO shares.
Avoid buying overvalued shares immediately after the IPO. Shares often fall after the IPO due to lockup expirations and quarterly earnings disappointments.
However, the most disruptive companies will be higher in a decade. Patience pays.
2. Buy Rubrik during the Rubrik IPO through a participating broker
Rubrik IPO access is over. Investors at Fidelity and TradeStation had opportunities to invest in the IPO.
Savvy IPO investors may find opportunities to invest during the IPO. That means acquiring shares at the IPO price the night before the company begins trading.
Once reserved for Wall Street’s wealthiest customers, IPO access has become more attainable to retail investors in the past five years.
Online brokers such as the following give customers free access to IPOs, even with low account balances. However, if indicate interest for shares, you are not guaranteed an allocation, and often do not receive one.
- TradeStation – Accepting requests via ClickIPO app
- Fidelity – Confirmed for Rubrik IPO
These other brokers may also offer access, but as of April 16th, Rubrik was not available.
Brokers often negotiate exclusive IPO shares, so your access to specific high-demand IPOs will be limited by how many brokerage accounts you have.
TradeStation has a longer track record of accessing more than 360 IPOs and secondary offerings via its partnership with ClickIPO.
Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs (e.g., Sweetgreen, Rivian).
Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.
3. Buy Rubrik Pre-IPO
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Rubrik stock may become available on pre-IPO investing platforms before the IPO.
This happens when employees or other early investors want to liquidate a portion of their shares without waiting for the public offering.
To be eligible to buy pre-IPO shares, investors must first be accredited.
Second, investors must be registered on pre-IPO investing platforms to receive notifications when shares become available.
Joining pre-IPO investing platforms is free. However, each platform and deal may have a minimum investment amount, which may vary by deal.
Direct investing pre-IPO platforms require investors to be accredited. Popular platforms include Hiive, EquityZen, Forge Global, and Linqto.
Check out this review of the best pre-IPO investing platforms to learn more.
The Fundrise Innovation Fund offers access to pre-IPO startups for only a $10 minimum investment. But Rubrik is not currently in the portfolio.
* Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.
Rubrik IPO News Archive
04/01/2024: Rubrik IPO SEC filing is now live
03/28/2024: Rubrik Is Ready to File Next Week for IPO
02/03/2024: Rubrik plans April IPO amid fraud probe
11/29/2023: Rubrik’s Revenue Growth Slows
09/01/2023: Rubrik Aims for IPO as Soon as This Year
08/08/2023: Rubrik acquires Laminar for up to $250M
06/05/2023: Microsoft-backed Rubrik hires banks for IPO
08/31/2022: Rubrik Surpasses $400 Million in Subscription ARR
08/18/2021: Microsoft Invests in Rubrik, Partners to Protect Customers
08/17/2021: Rubrik Announces Strategic Agreement with Microsoft
01/15/2019: Rubrik Raises $261 Million Series E at $3.3 Billion Valuation
05/01/2017: Rubrik Raises $180 Million Series D at $1.3 Billion Valuation
Conclusion
Investors get excited when they identify companies riding extraordinary macroeconomic trends like cybersecurity and physical security. This can lead us to private companies positioning to profit from massive opportunities.
However, buying the stock early on can often prove difficult for retail investors.
Though pre-IPO investing platforms have opened more opportunities, private equity investing is still primarily reserved for the ultra-wealthy, requiring millions to invest in seed and early funding rounds for disruptive companies.
The Rubrik IPO was considered a success and other cybersecurity companies such as Wiz could follow.
If you decide to pursue IPO shares and early equity in late-stage startups, maintain reasonable expectations. However, if you identify several favorite IPO companies, you may eventually be able to invest in some of your target companies.
* Disclosure: The web page contains affiliate links from our partners. If a reader opens an account or buys a service from a link in this article, we may be compensated at no additional cost to the reader. Opening an account with a broker that provides access to IPOs does not guarantee the customer allocations of specific IPOs. The author is long HOOD and the Fundrise Innovation Fund. Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.
Craig Stephens is a former IT professional who left his 19-year consulting career at the IRS to be a full-time finance writer. A DIY investor since 1995, he started Access IPOs in 2016 to provide a resource for ordinary investors pursuing access to IPOs. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Learn more about Craig.
